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The Organization of the Petroleum Exporting Countries (OPEC) is a cartel of 12 countries that controls roughly two-thirds of the world's oil production. The cartel gives countries quotas for production. Why might a country be tempted to produce above quota for a year? How do you think other OPEC countries might respond if it did so?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92757945

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